Course Description

Course Title : Diploma in Aviation Leasing and Finance

Law Society of Ireland – Diploma Centre



Programme objectives

On completion of this training programme, participants will have:

  • An excellent understanding of the key legal issues pertaining to the sale and lease of aircraft;
  • A detailed understanding of the finance structures involved, how to finance an aviation transaction, and funding available;
  • A thorough knowledge of the key regulatory issues pertaining to aviation;
  • An in-depth knowledge of the legal issues relating to key aviation matters, such as engines, maintenance reserves, security, taxation, insurance, records, and repossession;
  • A familiarity with the key legal and financial documents and structures in aviation leasing and finance transactions;
  • Confidence in dealing with aviation issues that arise in practice – be it from a lender, lessor, lessee, or airline.

Programme structure and approach to learning

Ireland is internationally recognised as the global hub for aviation leasing and finance, with each of the top ten global aircraft lessors enjoying a presence here. Half of the world’s fleet of leased aircraft is owned, leased or managed in Ireland. The major industry players have been attracted by Ireland’s stable political regime, membership of the EU, favourable time zone, talented workforce, not to mention our legal and regulatory advantages. In addition, Ireland’s network of over 60 double tax treaties, combined with the absence of withholding tax on aircraft lease rentals and a corporate tax rate of 12.5%, make Ireland a commercially attractive place to set up and run an aircraft leasing company.

This diploma provides comprehensive coverage of the key aspects of the aviation leasing and finance industry. It aims to deliver an in-depth analysis of the core legal and practical issues that parties typically encounter in aircraft leasing and finance transactions. The teaching faculty for this diploma comprises a fantastic array of world-renowned legal practitioners from Ireland, the UK and the USA, along with leading aviation industry specialists.

Modules

The Diploma in Aviation Leasing and Finance Law programme is based on the following module scheme and covers key themes as listed below:

Module 1: Introduction to the aviation industry

  • Origins of aviation industry in Ireland
  • Profile of aviation industry 2018
  • Reasons for development of Ireland as aviation hub
  • Analysis of main industry players in the sector
  • Overview of regulatory framework

Module 2: Purchase and Leasing Aircraft

  • Reasons for investing in aircraft
  • Aircraft operating lease agreements and key clauses
  • Purchasing aircraft – the practical considerations
  • Relevant purchase documentation
  • Delivery of aircraft – acceptance certificates, relevant clauses
  • Trading aircraft

Module 3: Aviation Finance

  • Commercial debt financing for aviation
  • Analysis of key capital markets structures
  • PDP financing from a leasing company and bank perspective
  • Analysis of typical Expert Credit Agencies structure (ECA)
  • Function of the Export-Import Bank (US) and Irish Stock Exchange
  • Typical security taken over aircraft.

Module 4: Regulatory environment

  • Role of Irish Aviation Authority
  • The Chicago Convention (Art.83 bis), ICAO, IATA
  • The Cape town Convention
  • The International Registry of Mobile Assets
  • European Aviation Safety Agency Regulations
  • EU Emissions Trading Scheme
  • Registration and de-registration of aircraft

Module 5: Taxation and Aviation

  • Importance of Irish tax residence
  • Tax Opinions, Legal Opinions
  • Double taxation treaty network
  • Withholding tax
  • Section 110 Companies

Module 6: Insurance and Aviation

  • Airline aviation insurances and key clauses
  • Lease insurance provisions in aircraft operating leases
  • Lessor considerations
  • Claims management
  • Standard endorsement analysis

Module 7: Applied leasing issues

  • Jurisdictional issues
  • Redelivery of aircraft
  • Helicopters –leasing, registration
  • Engine leasing
  • Maintenance reserves
  • Aircraft records management
  • Corporate service providers

Module 8: Repossession and recovery

  • Repossession in practice
  • Key documentation, key clauses
  • Material adverse changes
  • Relevant default provisions
  • Termination notices
  • Applications to Court
  • Enforcement –practical steps

Module 9: Fleet planning

  • Fleet planning by airlines
  • Strategies engaged
  • Case studies
  • Lessor positioning

Module 10: Case law and future trends

  • Irish and UK aviation case law update
  • Future trends for aviation industry

Module 11: Career Panel event
This will afford students the opportunity to get expert advice from professionals in the industry about how to enter the aviation industry or how to successfully move sectors within the aviation industry.

Workshops

Workshops are a key feature of this course. These are designed to be interactive and involve working in groups on selected case-study problems and analysis, with an emphasis on the application of the law to common scenarios encountered in practice.

  • Workshop 1: Saturday 2 March 2019
  • Workshop 2: Saturday 30 March 2019
  • Workshop 3: Saturday 11 May 2019
  • Workshop 4: Saturday 8 June 2019

Assessments

Three hour closed book exam.

Who should attend?

In order to apply you must (1) be a qualified lawyer or (2) have a minimum of two years full time experience in the aviation industry or (3) have successfully completed the Certificate in Aviation Leasing and Finance.

This course is suitable for:

  • Solicitors, barristers, and trainees who advise aviation clients or who wish to join the aviation sector;
  • Professionals working in the aviation industry who wish to expand their knowledge with a view to career advancement or moving laterally to another discipline within the industry;
  • Professionals working in aircraft leasing companies or airlines;
  • Contract administrators and engineers;
  • Professionals in financial institutions that fund the purchase of aircraft;
  • Accountants, finance professionals, and tax consultants advising aviation clients; and
  • Insurance professionals specialising in aviation insurance.

We welcome applications for this course from suitably qualified non-members. Please explain your interest and set out any relevant experience in a cover letter and a brief CV. Such applications are subject to a supplemental fee, which amounts to €200 in respect of a diploma application. Students who have successfully completed the Certificate in Aviation Leasing and Finance will be eligible for a discount on their diploma application.

Hear from our graduates

 

Laura Ni Dhruachain

“I found the course incredible informative, and I use everything that I’ve learned from the Diploma on a day-to-day basis. I would definitely recommend it for those in the aviation industry or even for those considering a move into the industry. The fact that it’s webcast makes it a very flexible course especially for those who are working full-time like myself or even those living internationally.”

Sarah Harmon (Senior Associate, Mason Hayes & Curran)
Diploma in Aviation Leasing & Finance, Spring 2016

Faculty

The teaching faculty for this diploma comprises a fantastic array of world-renowned legal practitioners from Ireland, the UK and the USA, along with leading aviation industry specialists. Lecturers and tutors are drawn from the leading law firms specialising in aviation law, aircraft leasing and management companies, airlines, the International Registry of mobile assets, asset management companies, insurance companies, Dublin Aviation Authority and the Irish Aviation Authority.

  • Donna Ager, Partner, Maples & Calder
  • Julien Basset, Vice President Marketing, Apollo Aviation Management
  • Jan Bosak, Legal Counsel, Ping An Aircraft Leasing
  • Paul Carrington, Partner, Clifford Chance LLP
  • William Coleman, Partner, Holland & Knight
  • Rob Cowan, Managing Director, Aviareto
  • Catherine Deane, Partner, McCann Fitzgerald
  • Patrick Farrell, Partner, Norton Rose Fulbright
  • Nikki Foley, Professional Support Lawyer, Matheson
  • Dick Forsberg, Head of Strategy, Avolon
  • Richard Goss, Partner, Hogan Lovells International LLP
  • Stuart Kennedy, Partner, Matheson
  • Richard Walton, Special Counsel, Milbank, Tweed, Handley & McCloy LLP
  • David McGovern, Partner, Walkers
  • Fergal Moloney, Head of Corporate Solutions, Capita Asset Services IRL
  • Deirdre Ni Chearbhaill, Legal Counsel, Avolon
  • Robert Normand, Director, Aon Ltd Aviation London
  • Marie O’Brien, Partner, A&L Goodbody
  • Christine O’Donovan, Partner, Mason Hayes & Curran
  • Kieran Oliver, Legal Counsel, Shannon Engine Support
  • Niamh O’Meara, Vice President and Senior Counsel, Milestone Aviation Group
  • Georgina O’Riordan, Partner, McCann Fitzgerald
  • Ed Riley, General Counsel, Avolon
  • Robert Roy, Vice-President, Transportation, Ex-Im Bank
  • Ken Rush, Partner, Walkers
  • Gerard Scully, Director of International Primary Markets, Irish Stock Exchange
  • Mark Shtenko, Senior Vice President, Aviation Asset Management, DVB Bank
  • Lucy Shtenko, Partner, Watson Farley Williams LLP
  • Brian Skehan, Assistant Director of Safety, Strategy and Planning, Irish Aviation Authority
  • Ronan Stewart, Chief Executive, Commercial, Santos Dumont
  • Gerry Thornton, Partner, Matheson
  • Mary Townsend, Director of Aviation Finance, A&L Goodbody
  • Jeff Veber, Partner, Vedder Price

CPD

The number of hours of CPD that solicitors may claim in relation to this course will depend on the way in which you access each of the individual sessions. For latest details and the booklet, see CPD scheme.


College Name Law Society of Ireland – Diploma Centre
Course Category Law, Legal Studies
Course Type Blended - Mix of Classroom & Online
Course Location Dublin City North, Dublin, Ireland
Location Postcode Dublin 7
Course Start Date 31st January 2019
Course Fee 2800
Course Times Onsite Thursdays 6pm to 8.30pm and webcast online with workshops on Saturdays.
Awarding Body Law Society of Ireland
Title of Awarding Diploma in Aviation Leasing and Finance
Entry Requirements In order to apply you must (1) be a qualified lawyer or (2) have a minimum of two years full time experience in the aviation industry or (3) have successfully completed the Certificate in Aviation Leasing and Finance.
For information about Law Society of Ireland – Diploma Centre, please visit our college page on www.nightcourses.com by clicking here.

Course Provider

Law Society of Ireland – Diploma Centre



The Education Centre, Blackhall Place, Dublin 7 (DX 79 Dublin), Ireland D07 VW24, Dublin, Ireland

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